Malawi kwacha sinks to new low | The Times Group

Malawi kwacha sinks to new low | The Times Group: By Taonga Sabola:

Pressure is mounting on the country’s trading currency, the kwacha, with Malawians needing over K800 to buy the dollar from around K740 in March.

This is the first time the Malawi kwacha has sunk to a low against the dollar since it was adopted as Malawi’s trading unit.

This is despite the country being in the middle of sales of major foreign exchange earner, tobacco.

According to Reserve Bank of Malawi (RBM) daily foreign exchange rates, the dollar was selling at an average of K805 to the dollar in forex bureau

Economist Intelligent Unit sees kwacha weakening by 9% | The Times Group

Economist Intelligent Unit sees kwacha weakening by 9% | The Times Group: United Kingdom-based economic think-tank, the Economist Intelligent Unit (EIU), has predicted the local trading unit, the kwacha, will weaken by about nine percent in 2019.

The forecast comes at a time the Reserve Bank of Malawi (RBM) has predicted a stable kwacha in 2019.

The EIU further says fiscal consolidation after the election should reduce the downward pressure on the currency in 2020.

According to Nico Asset Managers’ 2018 Annual Economic Report released on Wednesday, EIU says between 2021 and 2022, a weaker US dollar and higher exports aided by a strengthening in the prices of some of Malawi’s agricultural exports should provide further modest support to the kwacha.

Stable Kwacha pushes down interbank rate - The Nation Online

Stable Kwacha pushes down interbank rate - The Nation Online





Stable Kwacha pushes down interbank
rate
Orama Chiphwanya O July 30, 2018 0 Comments
The Bankers Association of Malawi (BAM) and a market analyst have said kwacha stability has
pushed down interbank rate (IBR) —rate of interest on short-term loans between banks.
Figures from Reserve Bank of Malawi (RBM) financial market development reports show that
IBR has eased by 13.1 percentage points from 26 percent in January last year to around 12.9
percent this year.

Tobacco dollars continue to stabilise kwacha—RBM - The Nation Online

Tobacco dollars continue to stabilise kwacha—RBM - The Nation Online: "YOU ARE HERE: Home → Tobacco dollars continue to stabilise kwacha—RBM

Tobacco dollars continue to stabilise kwacha—RBM
Orama Chiphwanya June 4, 2018 0 Comments


The Reserve Bank of Malawi (RBM) says proceeds from tobacco have contributed to the stability of the kwacha and increased foreign exchange reserves.

In an interview on Friday, RBM spokesperson Mbane Ngwira said: “We cannot rule out the fact that the tobacco dollars are having an impact on the kwacha. There are some purchases that have been done from the market."



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